ECB's Nowotny says no to loosening funding for Greece now

May 28, 2015 7:12 AM

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FRANKFURT A European Central Bank policymaker played down the prospects for an immediate loosening of funding for cash-strapped Greece, saying that when it came to accepting the country's bonds as security for central bank credit, the answer remained no.

The critical comments from Ewald Nowotny, who as head of the Austrian central bank also sits on the ECB's policy-setting Governing Council, echo those of European officials, who have played down Greek government optimism that a deal is near.